Birmingham Offices Market Report

Published: December 2007
Source/Company: Colliers International

Abstract:
Grade A Demand on the Rise
• Total Grade A take-up in Birmingham city centre for H2 2007, has risen to
163,960 sq ft. This represents a rise of 74% on the H1 2007 figure.
• The largest recorded transaction in 2007 was the 42,000 sq ft letting to the Insolvency Service at Cannon House.
• Overall availability has fallen by 13% in the past 12 months.
• Average achieved rent for all transactions rose by 8% year on year to stand at £20.48 psf.
• Average lease terms have increased across Birmingham as a whole. Sub 5,000 sq ft units continue to attract shorter lease lengths.
• 1.1m sq ft currently under construction, 142,791 sq ft is pre-let.

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